Business News

Global stocks stay buoyant as dollar, bond yields rise

LONDON (Reuters) - World equity markets held close to all-time highs on Tuesday, as investors latched on to rising bets on higher borrowing costs in the U.S. and Britain. Reports that U.S. President Trump might pick Stanford University economist John Taylor to lead the Fed after Janet Yellen’s term ends next year sent two-year Treasury yields to their highest since 2008 and pushed up the dollar. That meant European...

17 Oct 11:20 AM 0 Read More...

Morgan Stanley's profit rises despite trading slump

(Reuters) - Morgan Stanley (MS.N) posted an 11 percent rise in quarterly profit as strength in investment banking and wealth management businesses more than offset a slowdown in trading. Earnings applicable to common shareholders rose to $1.69 billion from $1.52 billion a year ago. Earnings per share rose to 93 cents from 81 cents. Revenue rose 3 percent to $9.20 billion from a year earlier. Analysts had forecast ear...

17 Oct 11:20 AM 0 Read More...

J&J reports 11.9 percent fall in quarterly profit

(Reuters) - Johnson & Johnson (JNJ.N), which completed its $30 billion acquisition of Swiss biotech Actelion in June, reported a 11.9 percent fall in quarterly profit as costs rose. The company’s net earnings fell to $3.76 billion, or $1.37 per share, in the third quarter from $4.27 billion, or $1.53 per share, a year earlier. However, the diversified healthcare company’s sales rose 10.3 percent to $19.65...

17 Oct 11:20 AM 0 Read More...

Airbus takes control of Bombardier CSeries in rebuff to U.S. threat

MONTREAL/PARIS (Reuters) - Airbus SE agreed on Monday to buy a majority stake in Bombardier Inc’s CSeries jetliner program, grabbing control of a struggling competitor at the second attempt and giving the Canadian plane-and-train-maker an unexpected boost in its costly trade dispute with Boeing Co. The deal, which would come at no cost for Toulouse, France-based Airbus, would give the European planemaker a 50.01 p...

17 Oct 6:19 AM 0 Read More...

NAFTA trade ministers to square off over hard-line U.S. demands

WASHINGTON (Reuters) - Trade ministers from the United States, Canada and Mexico wrap up a contentious round of NAFTA trade talks on Tuesday marked by aggressive U.S. demands that have left the future of the 23-year-old free trade pact in doubt. The proposals to drastically reshape the North American Free Trade Agreement to help shrink U.S. trade deficits have cast a pall over the modernization talks, leaving some pa...

17 Oct 6:19 AM 0 Read More...

Microsoft responded quietly after detecting secret database hack in 2013

(Reuters) - Microsoft Corp’s secret internal database for tracking bugs in its own software was broken into by a highly sophisticated hacking group more than four years ago, according to five former employees, in only the second known breach of such a corporate database. The company did not disclose the extent of the attack to the public or its customers after its discovery in 2013, but the five former employees de...

17 Oct 6:19 AM 0 Read More...

Wall St. closes at records helped by finance, energy sectors

(Reuters) - Major U.S. stock indexes rose to record high closes on Monday as financial shares recovered from last week’s losses and higher oil prices lifted energy shares. The Dow Jones Industrial Average .DJI rose 85.3 points, or 0.37 percent, to 22,957.02, the S&P 500 .SPX gained 4.47 points, or 0.18 percent, to 2,557.64 and the Nasdaq Composite .IXIC added 18.20 points, or 0.28 percent, to 6,624.01. Reportin...

16 Oct 8:14 PM 0 Read More...

Colony Capital injects cash, in talks to buy Weinstein Co

NEW YORK (Reuters) - The Weinstein Company has entered talks to sell the bulk of its assets to private equity firm Colony Capital, the companies said on Monday, as the film production company looks for stability after the departure of co-founder Harvey Weinstein. Co-Chairman Bob Weinstein, Harvey’s brother and the other co-founder, on Friday had denied the firm was seeking to sell or shut down after firing Harvey W...

16 Oct 8:14 PM 0 Read More...

Exclusive: China offers to buy 5 percent of Saudi Aramco directly - sources

DUBAI/LONDON (Reuters) - China is offering to buy up to 5 percent of Saudi Aramco directly, sources said, a move that could give Saudi Arabia the flexibility to consider various options for its plan to float the world’s biggest oil producer on the stock market. Chinese state-owned oil companies PetroChina (0857.HK) and Sinopec (0386.HK) have written to Saudi Aramco in recent weeks to express an interest in a direct...

16 Oct 8:14 PM 0 Read More...

Nordstrom family suspends attempt to take U.S. retailer private

(Reuters) - Nordstrom Inc said on Monday that a founding family group had suspended attempts to take the U.S. department store operator private because of difficulties in arranging debt financing for its bid ahead of the key holiday shopping season. Nordstrom shares dropped as much as 7 percent as investors were again reminded of the challenges of the U.S. brick-and-mortar retail sector, which has seen a record numb...

16 Oct 8:14 PM 0 Read More...